It’s easy to put barriers up and erroneously accept that you will never be rich or successful because of some random factor in your life, like where you grew up, your genetics, or the school you went to.
The truth is many people just like you, even people with bigger odds stacked against them, have become millionaires.
If you already have a steady career or run your own business, you’ve cleared the first hurdle.
If you’re reading this, then you probably have a burning desire to take your life to the next level, which is also important.
If you want to achieve something, then the best way to learn is to look at someone who has already done it.
So, what are the daily habits of millionaires that make them so exceptional? What is the secret sauce that gives them an edge over everyone else?
While each success story is different, we know that there are several habits that successful people swear by. Here are a few to get you started:
1. Read Every Day
It’s well-known that successful people make time to read everyday. If you’re reading to your interests, then you will always get value from investing your time this way. However, if your goal is to be successful you should read with that purpose in mind.
Rather than randomly picking books, research the favorite books of people you admire. What were the books that changed their lives, inspired them to take action, or shifted their perspective?
Another important aspect of reading is taking notes. If you’re like most people, there’s only so much information you will be able to retain in your head. Use a program like Evernote to organize and categorize the wisdom you glean from your reading.
2. Get a Mentor or Join a Mastermind
It’s possible that you will achieve your goals entirely on your own, without support or guidance from others. However, you increase your odds of success exponentially when you have a mentor. Why?
They’ve been in your shoes and faced the same challenges you will. And, they overcame them.
Given enough time, there’s no doubt that you could probably work through your problems on your own. But tapping into the experience and wisdom of a mentor or mastermind group will get you there much quicker.
3. Pursue the Things That Make You Happy
It’s a mistake to think you have to choose a niche that is profitable over one that you are interested in. Sure, you need to do your research and due diligence, but consider this: do you really want to spend the next 5, 10, or 15 years of your life working at something you hate in order to become a millionaire?
How much harder does it make your task when you have to drag yourself out of bed every Monday morning and force yourself to work when you’d rather be doing something else?
It’s a cliche to say that if you love your job, you’ll never work a day in your life. It may not be entirely true, but think of how much more motivated you will be working on something that you love.
4. Value Your Time
People often talk about working harder vs. working smarter, and while it’s true that you need to set priorities, there’s nothing wrong with working long hours as long as you understand the value of your own time.
Say after calculating your average monthly income, you estimate your hourly rate at $500. Think about the kinds of tasks you would pay someone that much to take care of. In reality, the type of tasks that are worth that much are things that are going to create new revenue streams, generate growth, or significantly increase your profits.
You would not, for example, pay someone $500 an hour to update your website or cold call prospective clients. When engaging in these types of day-to-day tasks yourself, consider whether they are the best use of your time.
Would it be smarter to pay someone a fraction of your hourly rate to take care of them, while you invest your time more strategically?
5. Stay Hungry
Once you achieve a certain level of success, it’s easy to rest on your laurels. Say that you’re comfortable. You have a family, a nice house, and you take a lovely vacation every year.
It can be tempting to put your bigger goals on the back-burner and coast.
All those things are important, but don’t you feel deep down that your life could be more than good? That it could be amazing?
Stay hungry for greatness. If you have a comfortable lifestyle, don’t think of it as an end point, think of it as a jumping off point.
How can you create financial security for your children and your children’s children? How can you serve others in a way that brings you even more of what your desire? How can you build a powerful legacy?
The choice is yours.
For more great content on becoming a millionaire, listen to my interview with John Shin on the Get Yourself Optimized podcast.